Kwanghyun Lim Promotes "K-Taxation" AI and Digital Transformation at Asia-Pacific Tax Commissioners' Meeting

Asia-Pacific Tax Commissioners' Meeting
Collection Cooperation MOU Signed with New Zealand

Kwanghyun Lim, Commissioner of the National Tax Service, attended the Asia-Pacific tax authorities meeting and began promoting "K-Taxation" initiatives such as artificial intelligence (AI) and digital transformation. Commissioner Lim also signed a working-level collection cooperation memorandum of understanding (MOU) with the New Zealand tax authority to establish a full-fledged cooperative framework in order to block tax evaders from hiding assets overseas.

The National Tax Service announced on September 11 that Commissioner Lim participated in the 55th SGATAR (Study Group on Asian Tax Administration and Research) Conference, held in Singapore from September 8 to 9, where he discussed with member countries the changing role of tax authorities in rapidly evolving taxation environments, including the adoption of AI.

Kwanghyun Lim, Commissioner of the National Tax Service (left), is taking a commemorative photo with Peter Mercy, Commissioner of New Zealand, after signing an MOU for collection cooperation. National Tax Service

During the event, Commissioner Lim presented South Korea's digital transformation strategy and key achievements under the theme of "Risk Management and Human Capacity Building in the Age of AI." In particular, he attracted the attention of member countries by introducing measures to establish AI governance, such as dedicated AI infrastructure, security measures for AI infrastructure, and training of specialized professionals.

Commissioner Lim also held bilateral talks with major partner countries at this SGATAR meeting to discuss cooperation on tax issues specific to each nation. Moreover, he requested special attention and active tax support for Korean companies operating overseas. In discussions with Singapore, the two sides agreed to strengthen cooperation on international tax matters such as mutual agreement procedures and the implementation of the global minimum tax for companies operating in both countries. They also agreed to hold working-level meetings to share Korea's expertise in inheritance tax and the operation of the electronic tax invoicing system, while exchanging Singapore's experience in the taxation of virtual assets.

Notably, the National Tax Service signed a collection cooperation MOU with the Inland Revenue Department of New Zealand to further strengthen collaboration in pursuing tax debts and effectively counter asset concealment by tax evaders overseas.

In the case of Mongolia, Commissioner Lim requested active tax support for Korean companies in line with the expansion of bilateral trade and investment. He also agreed to provide a capacity-building program for Mongolian tax authorities to share Korea's experience in the automatic exchange of financial information and other "K-taxation" practices. Furthermore, the two sides formed a consensus on the importance of international cooperation to prevent offshore tax evasion, including information exchange, and agreed to sign an information exchange MOU at the next Korea-Mongolia tax commissioners' meeting.

An official from the National Tax Service stated, "We will continue our efforts to foster friendly relations with the tax authorities in the Asia-Pacific region, which are important areas for Korean companies' activities," adding, "We plan to pursue practical diplomacy where both sides can provide mutually needed support."

This content was produced with the assistance of AI translation services.